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Blog / Forex news / --->29-09-11 - Daily Market Review

--->29-09-11 - Daily Market Review

9/29/2011
 
 
  Important Financial Indicators of the day Forecast Previous
EUR 07:55 (GMT) German Unemployment Change -9K -8K
CAD 12:30 (GMT) RMPI m/m -1.9% -1.2%
USD 12:30 (GMT) Unemployment Claims 420K 423K
USD 14:00 (GMT) Pending Home Sales m/m -1.7% -1.3%

Currencies

  • EUR/USD The 17-nation currency rallied versus the dollar before German lawmakers vote on changes to a European bailout fund.
    • The euro climbed to $1.3623 as of 6:05 a.m. in London from $1.3543 in New York yesterday

  • USD/JPY The yen declined against the dollar erasing yesterday's gain
    • The Japanese currency traded 76.55 per dollar around 7:30 a.m. London time.

  • USD/CAD Canada's dollar weakened versus U.S. dollar on concern the European debt crisis will slow global economic growth.
    • The Canadian currency depreciated 1.4 percent to C$1.0335 per U.S. dollar at 5 p.m. in Toronto.

Commodities

  • Gold climbed on concern that European leaders may not be able to avoid the region's debt crisis, reviving demand for the precious metal as a haven.
    • Immediate-delivery gold gained as much as 0.8 percent to $1,621.15 an ounce, overturning a 1.6 percent drop to trade at $1,618.85 at 11:52 a.m. in Singapore.
    • December-delivery bullion rose 0.2 percent to $1,621.60 an ounce in New York.
  • Oil dropped on speculation that global economic growth will slow fuel demand amid rising supplies.
    • Crude stockpiles rose 1.92 million barrels last week, the U.S. Energy Department said.
    • Crude for November delivery was at $81.15 a barrel, down 6 cents, in electronic trading on the New York Mercantile Exchange at 2:16 p.m. Sydney time.

Equities

  • US Stocks fell as a decline in commodities prices created additional concerns about policymakers' ability to contain Europe's debt crisis.
    • Dow Chemical Co. (DOW) and Alcoa Inc. (AA) slid at least 4.9 percent as commodities tumbled.
    • The S&P 500 lost 2.1 percent to 1,151.06 at 4 p.m. New York time.
    • The Dow Jones Industrial Average fell 179.79 points, or 1.6 percent, to 11,010.90 today.

  • European stocks declined amid concern that Greek bonds' holders will suffer larger losses than previously agreed upon.
    • The U.K.'s FTSE 100 Index retreated 1.4 percent.
    • Germany's DAX Index and France's CAC 40 Index both declined 0.9 percent.
  • Asian stocks swung between gains and losses on speculation German lawmakers will approve a measure to expand a bailout fund for Europe's debt-stricken nations.
    • The MSCI Asia Pacific Index rose 0.3 percent to 114.19 as of 3:05 p.m. in Tokyo.
    • Japan's Nikkei Stock Average was up 0.99%.
    • Hong Kong's Hang Seng Index fell 0.66% while The Shanghai Composite Index was down 0.5%.

Sources: Bloomberg, FT


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